with me. >> i do too, doc. >> hp. >> ivw. >> corning. >> i like the financial, goldman sachs. >> doc, we didn't get to it today but know when to hold em and know when to fold em. that's apropos for you today. >> yes it is. >> what happens in vegas stays here in vegas. here. >> meantime you can catch more "fast money" at 10:00 p.m. >> halftime is over, "power lunch" and the second half of the trading day starts right now. >> scott, thank you very much. now that is what investors want to know after the feds move to pay interest rates for unem plo ploimt rate. the jobs picture keeps improving and rates rise faster than expected. what should you do if that

happens? the map at war, heating up. google unveiling its new map for the iphone after given the boot by apple. who will win this battle? and shares of best buy, moving up by, look at that, nearly 15% today. reports its founder could make a take over offer for that retailer, but is that the best move? my partner, sue herera at the new york stock exchange for us. sue? >> ty, it is a little bit after down side bias today. investors are losing enthusiasm over the fed's move. and more specifically, the employment rate. right now, the dow is down 57 points on the trading session. most of that drop cake after mr. boehner made comments about the continues impasse in trying to resolve the fiscal cliff. s&p down 23, down three quarters percent. and the nasdaq is down about half a percent. bob joins me on the floor of the nyse. the market is very undecided

about what is happening in washington. what the feds know that perhaps we don't know. >> we are getting smacked around by these two separate events. the fiscal cliff as well as aftermath of what went on with the fed. i think the fed is still very important here. take a look the dow industrials. remember, we started moving down right after we saw mr. bernanke give his press conference. we talked about fiscal cliff having problems, not having the tools to deal with the fiscal cliff. the fed not having it, should we go over that. there we are dealing with the aftermath. remember something folks, september 14 is the high for the s&p this year. you know why that is important in september 13 is the fed meeting. they bought into the fed meeting and sold right after that, sue. and they are doing that again today. we are repeating what happened just a few months ago. i think that's why it is very important. elsewhere, defense stocks. here is a group that's very worried about frustration when mr. bernanke started getting tampered with questions on the fiscal cliff. you saw the defense stocks move

down. very rare miss in home builders. they had disappointing earnings and that has not happened much in the last couple quarters with home builders. >> certainly hasn't been. bob, i will see you later. >> commodities taking a hit after the fed's move. oil is down, gold is dropping below the 1700 level. sharon is at the nimex with a $20 loss in gold, sharon? >> fading quickly from the fed of course after chairman bernanke talked about the fact that you know, this is not offsetting any impact coming from the fiscal cliff. this is where they focus on this morning and we are looking at prices that slid even more so than the wti price. that gained more than wti over the last several sections. but it is right around $108 a barrel right now. natural gas harder hit and that had much more to do with the report that came out today that is very bearish. we are looking at a key technical level, now look for the down side target around 325. that's what traders are looking at. and you mention gold below 1700

and the fact that traders are taking profits but also, sue, looking at fact that now the changing from day base it data base. that changes the picture here on stimulus, on rates and could change the outlook for gold at least in the short run. >> all right, sharon, thank you very much. kenny is here with me. independent trader at nyse. also with ty, ceo of wealth management. kenny, what do we know today that we didn't know yesterday or vice versa. yesterday the fed said they were going to keep rates low for a long time. >> and he was quite concerned, right? in his speech afterwards, he was very concerned about the fiscal cliff and concerned about what impact would be. then today with much of macro data that said, everything is great. retail sales are up and initial jobless claims and it is all roses. there is a conflict and dislocate. how could it have changed in less than 24 hours. ben bernanke just throwing a

trillion dollars at this and all of a sudden today everything is coming up roses. 2 t is frustrating. didn't want it believe it. and we saw the fiscal cliff hanging over. >> do you agree with that, michael? >> bernanke doesn't come out and display one side. he is trying to talk the market into being optimistic but not too optimistic. the take away that i really thought was critical yesterday, this whole target rate gives investors a map for how to invest over the next couple of years. i have a blog on cnbc right now that talks exactly about that issue. he essentially said you stay in bonds for a year, year and a half until unemployment starts to come down into the 6s. that point, you sell, put risk on. make sure you're international -- >> my question for you, michael, is a lot of our viewers have a lot of portfolios in fixed income assets. mutual funds or whatever. what should they be doing if anything now and what is the signal for them to act and do something? >> great question. all of this is theoretical until

you operational it for investors. if you are in long-dated or int intermediate bond assets, ask yourself, how long do you ride that train for yield. perhaps just yield only. and in all likelihood, in my view, probably 12 to 18 months. i don't think unemployment rate will come down below 7% maybe in 12 months or so. if that the case, you hold on to your trade. >> i think once unemployment is below 7%, like we talked about yesterday, you get that shift out of bonds, back into equities. that doesn't mean that equities will take off over the next 18 months either. i think there will be a struggle. >> you don't want to be the last one out of the door. you really don't want to be the last one out. >> made that very clear. >> yes, indeed. hold on tp part two of my one on one interview with blackrock president rob kapito, coming up later on "power lunch." here is a quick preview of what he has it say about the state of investing. >> what i'm really worried about more than the fiscal cliff is

that it's taking attention from investors to actually invest. so you can't invest for the future in the future. almost every asset class has a positive return p th year. so if you sat on the sideline, worried about the fiscal cliff, sitting in cash, in your bank account, you've left double-digit returns and the equity market, high single digit returns across many fixed income products and commodity products. so there you go. another year has been wasted because you're so focused on what's going on in washington and you should be very focused on your own pocketbook right now. and invest now and not wait for the future. >> but if you had done that as well, you have to be in the right spots. >> and you have to be in it -- in it for the long-term, right? allocate, stick to the plan and be in it for the long-term. and he is absolutely correct. but you have to have the stomach and a lot of people got crushed

during the phantom crisis no longer have the stomach. those are the people that have the 60 to 70 or 60 to 80 age bracket. and they have the bulk of the assets, right? >> they do. we will talk about this more and we have more from mr. kapito, ty, in just a little bit. >> thank you, sue. still unanswered questions about the fed's latest move. steve leisman, you are not just going to give us questions, you're going to give us answers. >> i wish i could. if i had another crack at the chairman, here are the ones i would ask. what happens on the way down the 6.5% unemployment. these are things, by the way, i have been back and forth with steve stanley. more people would work, right. but what happens to fed policy? does it remain the same? when do i get nervous? think about what your investors were saying? when should i sell bonds and buy equities? will there be a fed policy? admitted he bernanke did say

that 6.5 -- >> isn't he going to stop buying treasuries and mortgage dash back security -- >> hold that thought. >> okay. >> what happens between 6.5 unemployment and 5.5, which is the natural rate. or where the fed thinks the long run unemployment rate. is when do you do that? and finally, the thing that i would come back with t.to, whate gauges for qe. there are two policies, tyler, and two rules. qe policy is not the -- >> is bond buying. >> it is different from the rate policy, which is tied to 6.5% unemployment. what we need to do, what your other investor guys, is sell me a derivative that takes my bond portfolio and henls my equity portfolio to those two numbers. because remember, we had a time limit mid 2015, that correspondents to the time in the bonds. i don't have a product right now that will protect me for 6.5%

unemployment and 2.5% -- >> someone is on the derivative right now. >> i should do that. >> don't you have an incredible need to open your shirt like richard dahltry. >> i do not. because of what could be underneath. >> terrible moment for either of us. >> sue, back to you. >> all righty, then. breaking news from bond market. 30-year bond market off the charts and rick san telly is tracking the action at the cme. first one since the move within ricky. i'm still aclempt from the idea of steve leisman taking off his shirt. >> let's hope ben bernanke isn't listening and show his shirt either. d & d wasn't a good auction either. atting to an issue originally couponed one month ago. and the internals were very weak. let's look at the one issue

market, right before bidding ended was 2.885 at 2.88, where did this price, at 2.917, higher yield, lower price. all internals to bid 2.5. indirects at 39.7 were average. directs were strong but couldn't bailout pricing failure of this third year. remember, a lot of volatility in underlying markets throughout the morning. tyler, back to you. >> rick, thank you very much. to housing now. just when we thought we were on the road to recovery. repossessions hit a nine-month high. and we hear happy news from washington. i thought foreclosures were easing. >> they are, look. the good news, tyler, is that newly started foreclosures are starting and that is pushing down overall activity. but repo man cometh. it is moving and moving fast. bank repossessions is the final foreclosure stage when banks

take ownership of the home, jumped 11% in november, month to month. up 5% year over year. that the first annual jump in over two years. all this from realty track. what is driving that is remarkable since states where you need a judge in process. the judicial states were stalled until of the mortgage servicing settlement kicked in. they are surging repossessions up in and 84% jump in new jersey and up as well in connecticut. you don't need a crystal ball it see the future. just the foreclosure starts numbers. that the first stage of foreclosure in new york, new jersey, arkansas and washington. you see the repo man will be busy there in 2013. now, home prices have been rising nicely. but this new supply of bank-owned properties coming to market next year could temper though gains a bit and remember, the overall drop in foreclosure activity is due it a big jump in short sales and principal reduction loan mods and those

are on the fiscal cliff if we lose on the forgiveness. we have plenty more to look at on the facebook page, so go ahead and go to it, as well as the blog. sue? >> thanks, we will. >> the global natural resources continues. they just inked a joint venture with aca. you see the stock pop reopen. it was halted for trading. they are doing a joint venture in canada for space of land that could have up to 9 billion barrels ever oil or equivalent. they are paying a billion up front at close. another billion over four years. and they will invest 4 billion all for 49% stake. they have been doing this for a couple of years now and they continue. back to you, sue. >> thank you, brian. if the food fight in washington continues. house speaker john boehner saying the white house seems willing to slow walk our economy up to and over the fiscal cliff. senator reed telling mr. boehner he can't ignore the american

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18 days and counting. the stakes are getting higher as america heads towards the fiscal cliff. congress still in stalemate. senate majority leader reed

firing exchanges earlier today. look at this, house members leaving for the weekend again. we know they're not really involved in the talks about the opticses certainly do matter. ayman, on the surface, it didn't seem to be going very well at all. >> on the ear fuss and below the surface. that may help negotiations because they don't have random members of congress milling around these halls spouting off and perhaps causing a problem for negotiators trying to get to a deal here. but we did play another round as we say, of press conference ping-pong. we had democrats, republicans, democrats back again. let's play a snippet so you can get a sense of the tone of what is going on, on the hill today. >> republicans want to solve the problem by getting the spending line down. the president wants to pretend that spending isn't a problem. that's why we don't have an agreement. >> speaker boehner can't ignore the american people forever.

at some point reality should set in. the only question is how much financial stress middle class families and our entire economy will have to endure during this process. >> so sue and tyler, senator lindsay graham wandering by us in the hall and i just asked him, where do you think things are right now? he said, look, i don't know if we're going 06 a cliff or falling out after tree but things here are headed in the wrong direction. i think that's the assessment of everybody. i think there's only two people who know where the negotiations are. that's barack obama and speaker boehner, and they don't seem to want to tell us. barack obama went to a christmas party. he went past a group of reporters. he says it is a work in progress. that's about where we know. >> is it your impression, aemon, that the subject has grown darker with the prospect of a deal than it was 48 hours ago? >> we haven't seen any public

evidence of the private negotiations since about tuesday when we saw offers and counter offers taking place behind the scenes. we have seen a hardening of the public rhetoric over the past couple of days here. you get the sense that people here in the capitol building are prepared to be here through christmas at this point. i talked to one member of congress who said, look, if they need me to, i will be here on christmas day. so i think people are bunkering in up here right now. at least atmospherically. that's where we're at. >> what are the hypothesis that both sides have some sort of incentive to take the country over the cliff even if only for a week or so. because on the gop side, they've said, we do 7b want it raise rates on anybody. on the president's side, he said, i campaigned for a year on the idea i am going to raise rates on the people who make more than $250,000 a year. if you go over the cliff, then aren't the politicians in the point -- at the point where they can say, well, rates are high.

i blame you. you blame me. i blame the other guy. and now, we can dial it back and actually lower tax rates for the sub 250 or maybe even for people above that. >> yeah, absolutely, tyler. that has always been a possibility here. but i think the odds on that are going up as a solution as we get closer and closer to newi year' eve here. republicans desperately do not want it make a vote that raises taxes. but after january 1st, they could have a vote that lowers taxes and gets us not all the way down to where we were befth is a vote to lower taxes. maybe that's where we're headed. still different scenarios. >> thanks for staying after it. how will washington break the fiscal cliff stalemate? if they do, joining us from capitol hill, maxine waters, democrat from california. soon to be the ranking member of the house committee on fanl services. she will be succeeding representative barney frank as

ranking member there as he retires. ms. waters, good to have you with us. >> thank you. delighted. >> i with a just asking aemon if he thought that tenor of the negotiations darkened over the last 48 hours with regard to the fiscal cliff. do you agree with that? >> i don't know. but i do know we haven't made any progress. from time to time, we've heard encouraging words but then the next day when it is time to report out what happened, nothing has happened. it does not appear that there have been any changeets, any progress has been made. so, as is being said, a moment ago. members of congress are prepared to be here during christmas holidays if we have to. >> when members go home for the weekend, back to their district, many traveling at taxpayer expense during this kind of environment, the optics are not particularly good. does that resonate with you, congressman waters? >> well, no. as matter of fact, constituent

are anxious to talk with us. they are always pleased to see us. they want an update. they want to know what is going on. of course dhe are encouraging us to bring this to a close. to reach some kind of agreement. but they don't mind us being home, if we're not doing anything. they want us there talking with them. and interacting with them. >> you know, speaker boehner says, and the people on the gop side, generally say we have a spending problem not particularly a revenue problem. i want to get your thought on that. and i assume maybe you would say we have both problems in this country. but if that is your point of view, which is your more acute one? spending issue or revenue issue? >> well, the fact of the matter is, we have to have revenue to run this country. a lot of people don't think about the fact that the food is safe, the water is safe. and that we -- our children are safe from defective toys and

poison. all of this costs money. and so we do have to have revenue in order to run this country. and that's what's made it the number one country in the world. now i know, we have to set priorities and be careful about how we spend the taxpayer's money. and you start out with fairness. taxpayer fairness. the rich in this country must pay their fair share. not only are they enjoying a lower tax rate, they have the ability to take advantage of every loophole, of all kinds of ways to keep them from having to pay their fair share, where the average working person is out there working everyday and barely making it and paying, you know, top rates. and so, the first thing you want to do is have a fair system. and make sure that the top 2% are participating in ways that they should. >> you're a self-made person.

one of 13 children raised by a single mom. >> yes. >> you worked your way up. >> yes. >> i wonder, know, what you would say or what kind of cut or reduction in the growth specifically of pled care, you would be willing to sign on to today, if any, given that growth in healthcare and medicare spending is a principal driver of our fiscal system today. >> i'm not willing to support any cuts in medicare. i'm so proud of this country for our ability to make sure that the least of these, our seniors, and people, many of whom worked all of theirs lives, have descent healthcare, primary doctors. have advantage to the medicines that we have developed in this country. and so, i'm not going to start, you know, balancing this deficit, this budget on the backs of the least of these. i want to make sure that the fair share is being paid by the

rich. >> congressman waters, thank you very much. >> welcome. >> good luck on solving the f fiscal cliff and your new role. >> thank you. >> the fiscal cliff is all that washington and wall street seems to care about right now. but on main street, it is really quite different. jane wells will join us on why american consumers keep spending as we head towards the cliff. >> first, we have analysis on the biggest upgrade of the day. tsoro, yum brands and vera bradley. [ male announcer ] when gloria and her financial advisor

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to pursue all her goals. when you want a financial advisor who sees the whole picture, turn to us. wells fargo advisors. michael, back with me, crediting te sora saying quote we think tesoro shares will rally with the season recovery in west cracks and closure of the carson city refinely acquisition. the west cracks. >> you know, let's not talk about that. >> 89% higher. what do you think of this? >> i think it will rally with oil commodity prices. i think it is a positive stock. i agree. >> you like that. let's move on to goldman sachs. upgrading yum brands. goldman noting quote that recent soft china same store sales and resulting uncertainty provide a good entry point, shares of yum down more than 6%. >> inflexion point.

doesn't that say it somewhere? >> inflexion? >> china, inflexion point. >> they need antibiotics. >> no, not that kind pf. >> oh, not that kind of one. >> so the stock will move based on increasing internal consumption. >> so you like the upgrade? >> i like the upgrade. >> jason is upgrading vera bradley. nice bags. very nice. we expect top line and continue that margin are are at a positive inflexion point. >> forget the inflexion point on this one. >> i think is concerning stock for me. they have been guiding revenue on see things down. they have a problem with inventory. i'm not a fan of this stock. >> the bagses, though. nice bags. >> they are nice bags. we will get you one for christmas. >> good to see you, man. all right. sue? >> you guys are having way too much fun up there without me. i'm getting jealous. let's go to sharon epperson. gold market down more than 20

degrees, below the 17 mark. sharon, how does it look? >> we're having fun down here within too, sue. so on the floors, it is always a good time. we're looking at gold prices right now down 20 bucks. and we're below $1700 as you mentioned, of course a lot of focus is back on the fiscal cliff away from what feds said in terms of what they will do in terms of monetary stimulus and now that it is based on data, the unemployment rate, that another data point that caused a lot of traders to reevaluate positions here in the gold market. not only gold that is taking a hit too. look at silver. down almost 4%. and year to date, gold is up about 8%. so there is a lot of money out there that just want it take the profit and run. back to you. >> all right, thank you, sharon. to brian shackman. brian. >> i want to follow up on sharon's point. gold stocks getting thumped pretty hard. take a look at names. new mom mining down 3.5%. also abx, g x, gold, all these

storms underperforming metal. you see 3.2, 3.5%. back to you, sue. >> thank you, broi an. a new year. where should you investor 2013? we hear where rob sefert is put the $3 trillion in assets next year. a struggling electronics retailer, are they making the best move? we will talk about that when power comes back. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st.

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all right. let's get the trading action. bob joins me from the floor of the nyse. not only does he know the market, but he can give me christmas advice as well. >> don't even go there. sorry about that. >> hope you're not watching kids. everyone wants to know why you're drifting along here lower in the middle of the day. i'm getting dirty looks here. it is not that the fiscal cliff is not important, but folks, we have seen this movie before. it is buy into the fed and then sell on the news.

this is one of the oldest trades out there and it is a profitable trade. so we hit two-month highs going into the fed meeting and since then we have been drifting lower. what happened on september 14th. we hit a 4 1/2 year high. now they bought right into the fed meeting on september 13. remember? that is when the fed announced the new qe measures. and just a week before that, announcements to spur tit in europe p so buy into the feds, sell on it. people have been asked by playing inflation here. let me give you heavy volume in the pro share short treasury, tbt. twice the inverse of the treasury. got to be careful with this because it can only get results on a one-day basis. but a lot of people, maybe inflation will be an issue in 2013. >> sure, absolutely. >> it wasn't in 2012. but this trade is a big one.

if it ever happens it is a huge trade. >> it is important to mention that that eta is twice the inverse. >> and it doesn't correlate on the long-term basis. only on daily basis. be careful. >> thanks, bob. appreciate it. >> this week i paid a visit to blackrock's trading floor. first time cnbc has been allowed access there, in fact. we got their outlook for 2013. blackrock president robert kapito oversees the firms as pepts here is what he said about the fiscal cliff and beyond. >> when you say they will take it to a crisis, does that mean we go over the fiscal cliff? >> there is a very high likelihood that it does or be at 11:59 on december 31st with a lot of hoopla. but the reality is, in some form or another, tax rate will go up. there is a going to be a conclusion to this. even if it waits until the last minute. even if it is in january, what it means is slow growth. it may mean that we lose the

entire first quarter because everybody is still worrying and talking about the issue. and here we go, clients again, underinvested at a time when they need to be invested. >> if they just kick the can down the road, is that good enough? >> uncertainties r's always the worst thing. there is nothing to be uncertain about. there are two parties that need to get together and they need to bring some influence in and we have a lot of very smart people and financial community. and in the political community. and if they get around the table, we can certainly work this out. this is not that complicated you cannot spend more than you take in. you have to raise taxes and come to a conclusion as to where it is going to be. >> that brings us to the 2013 outlook. it seems as though, better things would be ahead for 2013. that the underlying read. is that correct? >> yeah, i think so.

ity there are tremendous opportunity in 2013 to be found. equity dividend. balance sheets are much better. but they have a lot of cash. what are they going to do with this cash? while the government is trying to figure out what to do, what they are doing is buying back stock and raising dividends. what that means is a floor on the stock market. so that a very good thing. and at the same time, dividends have always been a portion of the total return of a stock. so you can see double-digit returns by buying large cap, good companies, that have cash, and are going to buy back stock and raise their dividend. >> one of the things that some people think will happen is that the fed will once again come to the rescue, specifically as it pertains to the fiscal cliff and other issues in the economy. >> what do you want to hear from mr. bernanke? >> i think bernanke has done a very good job and he has kept interest rates low and they continue to buy secure ilts sec

of the marketplace, to the tune if they continue with the sovereign wealth bonds, there won't be that many left for us to buy from seven years on out. so they've done what they did k do. the rest is all policy. and i don't think that is something that is set by the fed. this is set now by congress. and the president. and so he is standing by and i think he is living up to his end of the bargain and i don't think we should expect that they do more. >> how do you feel about europe and would you put money to work in parts of europe? >> right now, i would not. i still think there aresome problems to work out, it is my third choice. u.s. first, europe second. and i think there is more beyond with the government having an

emerging plan. this is just taking a long period of time and i think that will continue on to next year. >> a very interesting guy, robert kapito. you just heard him say that his choices in order were u.s., then emerging markets, then europe. if you were to follow that advice and put money into the u.s. market, give me a couple of names would you look for for 2013. >> first of all, you want to buy names that cater to all of us that have less money. let's talk about one of those names. mcdonald's and costco. mcdonald'scaters to a letter budget crowd. obviously they have a huge emerging market expansion as well. and they seem to be capturing market share from starbucks. they've enrolled in juices and try to capture market share from jamba juice. >> a horrible luxury. not a luxury. but affordable food. >> correct. now let's go to affordable food.

costco, you go to the back and there's the milk. but you have to go through the middle section. the middle section is what people buy, the high margin items. costco sells product to consumers that are reasonably affluent. that channel will be auk sayssu when they try to go up against name brands. >> they may be conscious about buying 4,000 rolls of -- >> and you cannot go out without ten tubs of mayonnaise. >> can't go without mayonnaise. >> wall street squarely focused on the fiscal cliff but is main street ignoring it? jane wells at a mall in canoga pa park, california. hi, jane. >> tyler, this fiscal cliff is as ugly as this sweater. we're making a noise about it. but do consumers know what it is

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google map app is back on the iphone. your thought? we would love to hear. go to finance.yahoo!.com and we will show you the results during the power rundown. before that, "street signs," what is coming up for you guys at 2:00? >> we call it the apple tags. how much have you spent on apple products this year? what percentage of your income? we have fascinating stats. and challenges, opportunities, things that keep him up at night and things that make you go hmmm. scratching your head. kicking it off today and you have to tune in to "street signs" to find out what we are talking about. coming up at 2:00 p.m. eastern. >> all right, see you at 2:00. consumers are spending. . new retail sales numbers show a bum frp last month. will it hold through the holiday shopping season?

especially as the fiscal cliff gets closer. jane wells is talking to shoppers in canoga park, california for us. hi, jane. >> hey, sue. it is ugly sweater day. this one lights up. by the way, folks want you to know i did not buy this here. they would never sell such a monstrosity. but does it make you want to jump off the fiscal cliff? do consumers even know what the fiscal cliff is? wul mart says before the election about 25% of its core customers did. now 75% do. is it making any impact? >> 50% of our core customers are saying that all of this debate and discussion will effect their christmas spending this year. >> now nearly everyone we spoke to knows about the fiscal cliff but not everyone thinks about it. >> are you concerned about the fiscal cliff? >> absolutely. absolutely. >> no, i'm not, actually. i think they will fix fiscal

cliff and i'm a positive person. >> i don't know how much it really impacts us but it impact the economy so i think we have had a really stressful year with business and health, so we haven't put that much thought into it. >> i have friends, very close friends, out of work, underemployed. so yeah, of course i'm concerned about it. yeah. >> but even so, more people are spending more this year but maybe not on themselves. america's research group says the percentage of people shopping to sell gift has fallen from 32% last year to 32% this year. this is money well spent. why you ask? as part of an ugly sweater fund-raiser for stand up to cancer. people pledge money if you have the guts to wear this. i wore another one earlier today. for more information go to ugly sweater sc 2.org. you can see my ugly sweater and just laugh at me, you don't have to pledge. >> i will pledge, jany. and i have a couple of sweaters

i can wear as well. i'm right there with you. thanks, jany. >> all right. >> to brian with market flash. >> that is a sweater. thank you, sue. >> yahoo! officially shaking up the board. you have max joining the board and david and kenny leaving. now, a former executive and co-founder of paypal, also on the boards at yelp and director of evernote as well. this continues the shakeup getting more technically, technology focused here, up 8 cents but this is big news. back to you, ty. >> all right, brian, thank you very much. scrambling to secure more coverage. sprint going after clear wire with $2 billion offer. paying a little less than $3 a share for it. after dish's plan to convert part ofity spectrum to wireless, boosting value to estimated $12 million. so why the scramble? simple, there just isn't enough spectrum to feed the growing

appetite for it. >> with pictures and videos going mobile, and broadcasters increasingly finding their way into your smart phone, demand for a scarce substance, broadband aido spectrum may be 25 times greater than today in just a few short years time. >> spectrum is a finite resource. you only have a small chunk of spectrum can you used, so it is very constrained. >> chief technology officers were for the last 15 years, bell labs worked to find spectrum solutions. >> we have a growth problem 245 is about a hundred fold. we have a huge scarcity problem we have to solve. >> the fcc made its own plan, including approving a dish network plan just this week to convert its existing satellite space to broadband. >> we have an exploding global

demand. we must use all policy lefers to address it. companies aren't waiting. weldon expects to deploy these small cubes all over the country. this will help cell phone signals, treeing up brond band. >> we haven't answered that we reuse it over and over again on smaller areas so we can get to the answer in a way that is manageable. and realistic. >> coming up, shares of best buy on fire today. up better than 15%. founder may make a take over offer for the retailer. is that long-term the best move for the company? that a topic up next on "power lunch."

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time for power rundown. on itunes and google maps, among free iphone maps, is this the final nail in apple's mac app.

>> i think the most interesting thing that this shows us is that apple customers even care about -- >> this is such a big goof for for them. you have a visual aid. >> i do. according to apple maps, this is where it says we are right now. >> secret underwater studio. we are in the hudson. >> right in the middle of the hudson river. if you were navigating by this thing, you would be very wet. >> this segment is sinking. >> i don't know -- >> this is a huge screw-up for them. >> it is. but i don't know, i like the idea of having a surprise when you are trying to figure out where you are. if you are in australia looking for a city and wined up in a natural forest, i think we can use a little serendipity in our lives. >> your thoughts? cool, i was lost without it.

whatever, i was cool with the replacement. don't met with my garmin. what's wrong with paper maps? richard schultz is prepared to make a 5 to $6 million buyout offer for the company. is this too little too late? he loves his company. he founded it. >> exactly. i covered a lot of wealthy people. a lot of them entrepreneurs. i believe that no one cares about a company like the founder. i mean, you know, whether this thing is saveable or not, what the right price is, i don't know. but i think that founders, it is like their children. and i think if anyone can pull this thing back together, it is the founder. >> part of his group apparently is brad anderson, a successful ceo at best buy. >> the price has come down. he has it pay a heck of a lot more a few months ago. >> if you're a real believer, take it out privately. if you think that investors are not -- you know, investor clause is willing to pay what you think

it is worth, go out there -- >> i will let you know what i think when the geek squad today successfully installs a tv that i just bought. >> if they do it, i'm all for it. if they don't, i'm out of there. >> last night's concert, for sandy relief, raising more than $30 mill and's spotted rock stars in the front row. stones/clapton is my highlight of the night. he is amazing to me, clapton. low light, i love the who, robert baltry's waxed chest was a little much for me. >> there is a great gift of lloyd laughing really hard in the audience. and i think it is, you know, nice to see these guys, you know, act like normal people every now and then. >> look, i think the robin hood foundation is behind this. >> what good work they do. >> and there are a lot of hedge fund guys, including steven

cohen, who is under fire right now. these guys do good. pulling in $50 million last night whether you call it rock glam if i lphilanthropy, whatev that is a lot of money. >> for me, it was a six-hour ad for cialis. >> good for charity rather than pi millions at their birthday party. >> this made an old man young today. in the next hour, not just interest rates, impacted by yesterday's fed announcement. it is mortgage rates as well. and diana is back in about an hour with that story and more. rock & roll rocks. ♪ [ male announcer ] 'tis the season to discover the kid in all of us. enjoy free shipping and great values on your holiday shopping from l.l. bean. [ engine revs ]

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or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial. dow jones 70 points or close to it. s&p 500 is off just under 10 points. nasdaq now down 23 on the trading session. that's good for three quarters percent loss. ty? >> michael, what do you make of the past cub el of days? all fiscal cliff related or what? fz fiscal cliff relate end again, bernanke, not